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Corporate Profile

Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.

Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd. (NIC), The New India Assurance Company Ltd. (NIA), The Oriental Insurance Company Ltd. (OIC), and United India Insurance Company Ltd. (UIIC). The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003. GIC, NIC, NIA, OIC, UIIC have been reclassified from promoter category to public category.

This financial year, Axis Bank carved out a path of strong growth, innovation and ‘many-firsts’. The Bank introduced 'open by Axis Bank', its digital banking proposition, offering ~250 features through a modern, user-friendly interface. In a first, the 'One-View' feature on the Bank’s mobile app allows customers to manage their finances seamlessly across various banks.

As a pioneer in embracing numerous innovative technological advancements, Axis was the first Bank to go live with UPI interoperability on its CBDC App. It became the first bank to introduce digital US dollar fixed deposit (FD) for NRI customers at the IFSC Banking Unit in GIFT City, Gujarat. The Bank also launched a first-of-its-kind comprehensive digital proposition "NEO for Business" to cater to the new-age banking needs of MSMEs. In partnership with the RBI Innovation Hub, the Bank now provides access to super-fast digital KCC and MSME loans. Axis Bank has taken significant strides in the adoption of Gen AI by rolling out Microsoft Copilot across select user base, and a GenAI-based chatbot for ~60,000 users across branches, for enhanced customer service efficiency and personalized banking experiences.

The Bank added 125 branches during the quarter and 475 overall in the FY24 period, taking its overall distribution network to 5,377 domestic branches and extension counters situated across 2,963 centres compared to 4,903 domestic branches and extension counters situated in 2,741 centres as on 31st March 2023. As on 31st March 2024, the Bank had 16,026 ATMs and cash recyclers spread across the country. The Bank’s Axis Virtual Centre is present across six centres with over ~1,590 Virtual Relationship Managers as on 31st March 2024. The Bank has been steadily gaining market share in the rural and semi urban markets through its 2,482 Bharat Bank branches, complemented by a 64,600+ strong CSC VLE network.

The Overseas operations of the Bank are spread over eight international offices with branches in Singapore, Dubai (at DIFC), and Gift City-IBU; representative offices in Dhaka, Dubai, Abu Dhabi, Sharjah and an overseas subsidiary in London, UK. The international offices focus on Corporate Lending, Coverage Business, Trade Finance, Syndication, Investment Banking, Liability Businesses, and Private Banking/Wealth Management offerings.

With a balance sheet size of Rs. 14,77,209 crores as on 31st March 2024, Axis Bank has achieved consistent growth and with a 5-year CAGR (2018-19 to 2023-24) of 13% in Total Assets & 15% each in Advances and Deposits.

Committee of Directors

Name of Members	Category
P.N. Prasad	Chairman
Rajiv Anand	Member
Ch S S Mallikarjunarao	Member
Prof. S. Mahendra Dev	Member

Audit Committee of the Board

Name of Members	Category
Girish Paranjpe	Chairman
Prof. S. Mahendra Dev	Member
Meena Ganesh	Member
Mini Ipe	Member
Pranam Wahi	Member

Risk Management Committee

Name of Members	Category
Gopalaraman Padmanabhan	Chairman
Amitabh Chaudhry	Member
Girish Paranjpe	Member
Pranam Wahi	Member
Munish Sharda	Member

Stakeholders Relationship Committee

Name of Members	Category
Ch S S Mallikarjunarao	Chairman
Rajiv Anand	Member
P N Prasad	Member
Munish Sharda	Member

Nomination and Remuneration Committee

Name of Members	Category
Meena Ganesh	Chairperson
Girish Paranjpe	Member
Nurani Subramaniam Vishwanathan	Member
Mini Ipe	Member

Special Committee of the Board of Directors for Monitoring of Large Value Frauds

Name of Members	Category
Mini Ipe	chairperson
Amitabh Chaudhry	Member
Prof. S. Mahendra Dev	Member
P.N. Prasad	Member
Nurani Subramaniam Vishwanathan	Member

Customer Service Committee

Name of Members	Category
P.N. Prasad	Chairman
Gopalaraman Padmanabhan	Member
Amitabh Chaudhry	Member
Mini Ipe	Member
Subrat Mohanty	Member

Information Technology and Digital Strategy Committee

Name of Members	Category
Ch S S Mallikarjunarao	Chairman
Gopalaraman Padmanabhan	Member
Amitabh Chaudhry	Member
Girish Paranjpe	Member
Subrat Mohanty	Member

Corporate Social Responsibility Committee

Name of Members	Category
Nurani Subramaniam Vishwanathan	Chairman
Rajiv Anand	Member
Meena Ganesh	Member
Prof S. Mahendra Dev	Member
Munish Sharda	Member

Review Committee

Name of Members	Category
Amitabh Chaudhry	Chairman
P N Prasad	Member
Ch S S Mallikarjunarao	Member

Acquisitions, Divestments and Mergers Committee

Name of Members	Category
Nurani Subramaniam Vishwanathan	Chairman
Amitabh Chaudhry	Member
Meena Ganesh	Member
Subrat Mohanty	Member
Pranam Wahi	Member

Committee of Whole-Time Directors

Name of Members	Category
Amitabh Chaudhry	Chairman
Rajiv Anand	Member
Subrat Mohanty	Member
Munish Sharda	Member

Environmental, Social and Governance Committee

Name of Members	Category
Prof. S. Mahendra Dev	Chairman
Amitabh Chaudhry	Member
G. Padmanabhan	Member

Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd.(NIC), The New India Assurance Company Ltd.(NIA), The Oriental Insurance Company Ltd. (OIC) and United India Insurance Company Ltd.(UIIC). The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003. GIC,NIC,NIA,OIC,UIIC and SUUTI are reclassified from promoter category to public category.

The registered office of Axis Bank is located at :

‘Trishul’, 3rd Floor,
Opposite Samartheshwar Temple,
Near Law Garden, Ellisbridge,
Ahmedabad, Gujarat - 380 006

Axis House,
C-2 Wadia International Centre,
Pandurang Budhkar Marg, Worli, Mumbai – 4000 025

The Corporate Office of Axis Bank is located at Axis House Mumbai. Axis House has received the ‘Platinum’ rating awarded by the US Green Building Council for its environment friendly facilities and reduction of carbon emission.

^{The Bank has an authorized share capital of Rs. 850 crores comprising of 4,250,000,000 equity shares of Rs.2/- each as on 31^st March 2024. The Bank has issued, subscribed and paid-up equity capital of Rs. 617.31 crores, constituting 3,08,65,70,375
equity shares of Rs.2/- each as on 31^st March 2024. The Bank’s shares are listed on the National Stock Exchange of India Ltd and the BSE Ltd. The GDRs issued by the Bank are listed on the London Stock Exchange
(LSE). The Bonds issued by the Bank under the MTN programme are listed on the Singapore Stock Exchange.}

The Bank at present has following 10 subsidiaries and 2 step-down subsidiaries:

The Bank has 10 subsidiaries namely, Axis Capital Ltd. (ACL), Axis Securities Ltd. (ASL), Axis Trustee Services Ltd. (ATSL), Axis Asset Management Company Ltd. (AAMC), Axis Mutual Fund Trustee Ltd. (AMFT), Axis Finance Ltd. (AFL), A.TREDS Ltd.(ATL), Axis Bank UK Ltd. (ABUK), Freecharge Payment Technologies Private Ltd. (FPTPL) and Freecharge Business and Technology Services Ltd (FBTSL).

Step-down subsidiaries -
Axis Capital USA LLC (subsidiary of Axis Capital Ltd.)
Axis Pension Fund Management Ltd. (subsidiary of Axis Asset Management Company Ltd.)

Axis Capital Ltd (ACL) (formerly Enam Securities Direct Pvt. Ltd.)

ACL was incorporated in India as a wholly-owned subsidiary of the Bank on 6^th December 2005 and received its certificate of commencement of business on 2^nd May 2006. Certain businesses of M/s. Enam Securities Pvt. Ltd. were merged with Axis Capital Ltd. as part of a scheme and the following companies became the direct subsidiaries of ACL:

Axis Securities Ltd. (formerly Enam Securities Direct Pvt. Ltd.)
Axis Finance Ltd. (formerly Enam Finance Pvt. Ltd.)
Axis Securities Europe Ltd. (formerly Enam Securities Europe Ltd.)
Enam International Ltd., UAE (voluntarily dissolved with effect from 24^th August 2014)

Axis Securities Ltd., Axis Finance Ltd. and Axis Securities Europe Ltd. subsequently became direct subsidiaries of the Bank in line with the RBI directives. Enam International Ltd., (UAE) was voluntarily dissolved with effect from 24^th August 2014.

Axis Capital Ltd. offers services in the areas of Equity Capital Markets, Debt Capital Markets, M&A and Advisory, Forex and Derivative solutions, Private Equity, Structured Finance and Institutional Equities to investors, companies and government entities.

The paid-up capital of ACL is Rs.73.50 crores. The net profit of ACL for the year ended 31^st March 2024 was Rs.152.43 crores.

Axis Securities Ltd. (ASL)

ASL was incorporated in India on 21^st July 2006.

ASL is a wholly-owned subsidiary of the Bank and is in the business of retail broking. ASL offers investment solutions to retail investors like trading in equity and derivatives, IPO, Mutual Fund, SIP, ETF, NCDs, Bonds, Company FD and tax saving solution etc. through the Axis Direct platform.

The paid-up capital of ASL is Rs.144.50 crores. The net profit of ASL for the year ended 31^st March 2024 was Rs. 301.20 crores.

Axis Trustee Services Ltd. (ATSL)

ATSL was incorporated in India as a wholly-owned subsidiary of the Bank on 16^th May 2008 and received its certificate of commencement on 30^th September 2008. ATSL is in the business of trusteeship services. It offers trusteeship services and agency & administration services to corporate clients.

The paid-up capital of ATSL is Rs.1.50 crores. ATSL reported a net profit of Rs.24.66 crores for the year ended 31^st March 2024.

Axis Asset Management Company Ltd. (AAMC)

AAMC was incorporated on 13^th January 2009 and received its certificate of commencement on 4^th March 2009. AAMC is in the business of asset and wealth management.

In September 2012, the Bank entered into a strategic partnership with Schroders Plc. Through this partnership, Schroder Investment Management (Singapore) Ltd. (SIMSL), through its wholly-owned subsidiary, Schroder Singapore Holdings Private Ltd. (SSHPL), acquired 25 per cent of the total issued and paid-up equity share capital plus one equity share in AAMC.

AAMC is registered with the SEBI to act as an Investment Manager for Axis Mutual Fund (the Fund). AAMC manages the investment portfolio of the schemes launched by the Fund and provides administrative services to the Fund.

AAMC is registered with the SEBI as a Portfolio Manager and provide Portfolio Management Services (PMS). AAMC is also registered under SEBI (Alternative Investment Funds) Regulations and is providing an investment management services to scheme’s launch under Alternative Investment Funds (AIF).

The paid-up capital of AAMC is Rs.210.11 crores. AAMC reported a net profit of Rs. 557.88 crores for the year ended 31^st March 2024.

Axis Mutual Fund Trustee Ltd. (AMFT)

AMFT was incorporated on 2^nd January 2009 and received its certificate of commencement on 4^th March 2009.

In September 2012, the Bank entered into a strategic partnership with Schroders plc. Through this partnership, SIMSL, through its wholly-owned subsidiary, SSHPL acquired 25 per cent of the total issued and paid-up equity share capital plus one equity share in AMFT.

AMFT is acting as a trustee to Axis Mutual Fund.

The paid-up capital of AMFT is Rs.0.05 crores. The Company reported a net profit is Rs.0.17 crores for the year ended 31^st March 2024.

Axis Finance Ltd. (AFL)

AFL was incorporated in India as a wholly-owned subsidiary of the Bank on 27^th April 1995. It is a non-deposit accepting non-banking finance company (NBFC) regulated by the RBI.

AFL provides wholesale and retail lending solutions to corporate and retail customers. On the retail front, AFL offers products such as Loan against Property, Business Loan, Consumer Finance, Personal Loan and Loan against Securities. On the wholesale front, the products offered are Special Situations Funding, Structured Financing and Real-Estate Financing requirements.

The paid-up capital of AFL is Rs. 627.06 crores. AFL reported a net profit of Rs. 597.20 crores for the year ended 31^st March 2024.

A.TREDS Ltd. (ATL)

A.Treds Ltd. is a joint venture between the Bank and Mjunction Services Ltd. It was set up on 23^rd May 2016. The Bank and Mjunction Services Ltd. hold 67% and 33% of the share capital, respectively. ATL undertakes the activities and operations related to the trade receivable discounting system. ATL owns and operates “Invoicemart” a digital platform which connects MSME suppliers and corporate buyers to multiple financiers. This platform enables sellers to get working capital quickly by selling their invoices to financiers.

The paid-up capital of ATL is Rs. 65 crores. ATL reported a net profit of Rs. 17.81 crores for the year ended 31^st March 2024.

Axis Bank UK Ltd. (ABUK)

ABUK is a wholly-owned overseas subsidiary of the Bank and undertakes the activities of banking. It was incorporated on 7^th March 2011 in the United Kingdom and commenced its operations on 19 ^th April 2013 upon receipt of approval from the FCA.

ABUK has a paid-up capital of US$ 55 million (Rs.458.73 crores) as on 31^st March 2024. The subsidiary is currently under closure mode.

Freecharge Payment Technologies Private Ltd. (FPTPL)

Freecharge Payment Technologies Private Ltd. was acquired by the Bank (from Jasper Infotech Private Ltd.) on 6^th October 2017 post receiving the approval from RBI. Freecharge is now a wholly-owned subsidiary of the Bank.

FPTPL operates payment system for prepaid payment instrument (“PPI”) services, mobile wallets and also acts as merchant aggregator for online and offline merchant transactions and facilitates mobile recharge, Fastag recharge, DTH recharge, Data card recharge, pay mobile bills, utility bills, data cards etc. FPTPL also provides some financial services i.e. Freecharge Pay Later, UPI payments, Instant Loans, Loan EMI Payment, Digital Gold, Mutual Funds, Fixed Deposits etc.

FPTPL has a paid-up capital of Rs. 1,763.70 crores. The reported net profit was Rs.79.21 crores for the year ended 31^st March 2024.

Freecharge Business and Technology Services Ltd. (FBTSL)

Freecharge Business and Technology Services Ltd. (FBTSL) was incorporated on 16^th March 2024 to undertake Business Correspondent and Technology Services. As on date, the total paid-up capital of FBTSL is Rs. 40 crores.

Axis Capital USA LLC (ACUL)

ACUL was incorporated in Delaware on 2^nd August 2017. It is a wholly owned subsidiary of Axis Capital Ltd. ACUL is a broker-dealer registered with Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA).

ACUL has paid-up capital of US$ 0.71 million (Rs.5.88 crores).

Axis Pension Fund Management Ltd. (APFL)

Axis Pension Fund Management Ltd. (APFML) was incorporated on 17^th May 2022 to undertake pension fund management business under the National Pension System.

APFML received its Certificate of Registration from Pension Fund Regulatory and Development Authority as a Pension Fund on 1^st July 2022.

Total paid-up capital of APFML is Rs. 80 crores. Axis AMC and Axis Bank hold 51.00% and 9.02% respectively of the paid-up capital of APFML. Other shareholders Havells Group and Manipal Group (through their entities) hold 19.99% each of the paid-up capital of APFML.

A central tenet in the Bank’s Policy on Corporate Governance is commitment to ethics, integrity, accountability and transparency. To ensure that the highest standards are maintained in these aspects on an on-going basis and to provide safeguards to various stakeholders (including shareholders, depositors and employees) the Bank has formulated a ‘Whistleblower Policy’. The Policy provides stakeholders with the opportunity to address serious concerns arising from irregularities, malpractices and other misdemeanours, if any, committed by the Bank’s personnel by approaching a Committee of senior officials of the Bank, set-up for the purpose (known as the Whistleblower Committee). Concerns relating to senior management can be reported directly to the Audit Committee of the Board. The Policy is intended to encourage stakeholders to report suspected or actual occurrence of illegal, unethical or inappropriate actions, behaviour or practices by staff without fear of retribution. To ensure smooth flow and management of complaints under Whistleblower policy, a web-based application – www.cwiportal.com has also been set up which provides an option for anonymous reporting thereby enabling the stakeholders to lodge their complaints online over a secure platform without fear of revelation of identity. The Policy contains provisions protecting Whistleblowers from any unfair action prejudicial to their interest. The Audit Committee of the Board reviews, on a quarterly basis, a synopsis of the complaints received and the resolution thereof.